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Insurance Council of Australia appoints two new Board members

The Insurance Council of Australia (ICA) has appointed two new members to the ICA Board.

Hugo Schreuder, Chief Executive Officer, Youi Pty Ltd, and Paul Sofronoff, Chief Insurance Officer, RACTI, will both join the Board December 5, 2022.

Schreuder began his insurance career in South Africa in 2003 at OUTsurance and is the founding Chief Executive Officer of Youi Insurance, which has now been operating for 14 years.

Over the course of his career, Schreuder has taken Youi from a start-up, to its current position of earning over $1 billion in gross written premium.

Moreover, Schreuder was heavily instrumental in the diversification of Youi’s products, and he also introduced Blue Zebra Insurance as a new broker distribution partner.

Meanwhile, Sofronoff has over 20 years of industry experience. He moved to General Insurance with AAMI following a legal career working with government and regulatory bodies. At AAMI he moved across the organisation from General Counsel, to insurance operations including distribution, pricing, marketing and claims management.

Following Suncorp’s takeover of AAMI’s parent company Promina his roles included risk and policy administration, recoveries and settlements. He was also responsible for Suncorp’s Investigation team, established to increase the management of fraud.

Addressing the Board’s new appointments, Andrew Hall, CEO Insurance Council of Australia, said: “The appointments of Hugo and Paul to the ICA Board come at a time of great forward momentum for the general insurance industry, particularly our role in spearheading the creation of a more resilient Australia by guiding government policy and investment.

“Both new Board members bring diverse experiences and perspectives and will add to the depth and breadth of knowledge and experience of the Board. On behalf of the Board, I look forward to their valuable insights and contributions over the duration of their tenure.”

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